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Alphamin (TSXV:AFM) shares corporate updates and sets EBITDA guidance for Q1 2021
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  • Alphamin (AFM) has announced corporate updates and set EBITDA guidance of US$36.5 million for Q1 2021
  • The company's EBITDA guidance is 118 per cent above the previous quarter
  • Contained tin sales came in at 3,351 tonnes or 45 per cent higher than the previous quarter
  • The processing plant performed well at an average recovery rate of 74 per cent
  • The company's fine tin recovery plant is on budget and on schedule for full commissioning by June 2021
  • Alphamin is planning over 20,000 m of drilling during 2021
  • Alphamin Resources is engaged in the production and sale of tin concentrate in the Democratic Republic of Congo
  • Alphamin Resources (AFM) closed the day down 6.78 per cent trading at C$0.55 per share

Alphamin (AFM) has announced corporate updates and set EBITDA guidance of US$36.5 million for Q1 2021.

Contained tin sales came in at 3,351 tonnes or 45 per cent higher than the previous quarter.

Contained tin production of 2,611 tonnes was impacted by a lower feed grade of 3.8 per cent Sn compared to 4.2 per cent in the previous quarter.

Tin feed grades are variable between quarters but trend close to 4 per cent Sn over a rolling 12-month period.

Alphamin's EBITDA guidance of $36.5 million for Q1 2021 is 118 per cent above the previous quarter due to increased sales volumes and a 25 per cent higher tin price.

The processing plant performed well at an average recovery rate of 74 per cent while treating more material than the previous quarter.

The company's fine tin recovery plant is on schedule for full commissioning by June 2021. Estimated expenditures at completion are in line with the $4.6 million budget.

The recovery plant has the potential to increase contained tin production by up to 10 per cent effective July 2021.

Alphamin plans to allocate significant drilling metres during 2021 as follows:

  • Between 8,000 and 14,000 metres at Mpama South, which would allow the company to begin a conceptual mining study, infill drilling and further step-out drilling by the end of 2021. Alphamin has drilled 6,645 metres at Mpama South to date
  • An initial 7,500 metres at Mpama North to test the strike and dip extension of the current producing orebody below 400 m in depth from the mine portal. Drilling is scheduled for May 2021
  • The company has identified two drill targets 6-8 km South of Mpama North along the Bisie Ridge. A high-density geochemical soil sampling program is underway and more accurate drilling targets will be identified in Q3 2021

Assay results from export samples related to 21 of the 25 holes in Phase 1 drilling are expected by June 2021. All completed holes have shown visual mineralization supporting continuity of the Main Zone system.

Alphamin is engaged in the production and sale of tin concentrate in the Democratic Republic of Congo.

Alphamin Resources (AFM) closed the day down 6.78 per cent trading at C$0.55 per share.

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